Required Information [The following information applies to the questions displayed below) Tory Enterprises pays $241400 for equipment that will last five years and have a $43,900 savage value. By using the equipment in its operations for five years, the company expects to earn $88,800 annually, after deducting all expenses except depreciation Calculate annual depreciation expense using double-declining balance method. Prepare a table showing Income before depreciation, depreciation expense, and net (pretax income for each year and for the total five-year period, assuming double-declining-balance depreciation is used. Complete this question by entering your answers in the tabs below. Depreciation Income Schedule Computation Calculate annual depreciation expenses using double-declining balance method. (Round Annual Depreciation to the nearest whole dollar) Depreciation for the Period End of Period Year Beginning of Depreciation Porlod Book Annual Accumulated Book Value Value Rate Depreciation Depreciation Your ! Year 2 Years Year 4 Year 5 Total $0 Lilly-Udiance method, Jully income before depreciation, depreciation expense, and net (pretax) Income for each year and for the tu five-year period, assuming double-declining-balance depreciation is used. Complete this question by entering your answers in the tabs below. Depreciation Schedule Income Computation Prepare a table showing income before depreciation, depreciation expense, and net (pretax) Income for each year and for the total five-year period, assuming double-declining-balance depreciation is used. (Net loss should be entered with a minus sign.) Income Before Depreciation Dopreciation Expense Net (Pretax) Income (Loss) Year 1 Year 2 Year 3 Year 4 Year 5 0 0 $ S $ Totals GO 7 of 13 MacBook Air